The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.

The Outreach & Education function engages, empowers and educates the public in the Second District. Our outreach mission furthers the Bank’s commitment to the region by listening to the communities we serve and developing programs, analysis and sponsored conferences and clinics to help meet their needs. Our education mission aims to advance public knowledge about the Federal Reserve System and its role in the economy.

To All Depository Institutions and Others
Concerned in the Second Federal Reserve District:

The Federal Open Market Committee (FOMC) today raised its target for the federal funds rate by 25 basis points, to 3.00 percent. In addition, the Board of Governors of the Federal Reserve System approved a 25 basis point increase in the discount rate, to 4.00 percent.

The FOMC’s statement is available on the Federal Reserve Board’s website.

The Board's discount rate action was taken at the requests of the boards of directors of the Federal Reserve Banks of Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco.